MONTRÉAL, Nov. 18, 2020
/PRNewswire/ - BCE Inc. (TSX: BCE) (NYSE: BCE) today
announced that none of its fixed rate Cumulative Redeemable First
Preferred Shares, Series R (Series R Preferred Shares) will be
converted into floating rate Cumulative Redeemable First Preferred
Shares, Series Q (Series Q Preferred Shares) on December 1, 2020.
On October 15, 2020, BCE notified
registered holders of Series R Preferred Shares that they could
elect to convert their shares into Series Q Preferred Shares
subject to the terms and conditions attached to those shares. Only
156,972 of BCE's 8,000,000 Series R Preferred Shares were tendered
for conversion on December 1, 2020
into Series Q Preferred Shares. As this would result in there being
less than one million Series Q Preferred Shares outstanding, no
Series R Preferred Shares will, as per the terms and conditions
attached to those shares, be converted on December 1, 2020 into Series Q Preferred Shares.
Registered holders who had elected to convert their Series R
Preferred Shares will be receiving, by December 1, 2020, share certificates representing
the number of Series R Preferred Shares tendered for
conversion.
The Series R Preferred Shares will continue to be listed on the
Toronto Stock Exchange under the symbol BCE.PR.R. The Series R
Preferred Shares will pay on a quarterly basis, for the five-year
period beginning on December 1, 2020,
as and when declared by the Board of Directors of BCE, a fixed cash
dividend based on an annual dividend rate of 3.018%.
About BCE
BCE is Canada's largest communications
company, providing advanced Bell broadband wireless, TV, Internet
and business communications services alongside Canada's premier
content creation and media assets from Bell Media. To learn more,
please visit Bell.ca or BCE.ca.
The Bell Let's Talk initiative promotes Canadian mental health
with national awareness and anti-stigma campaigns like Bell Let's
Talk Day and significant Bell funding of community care and access,
research and workplace leadership initiatives. To learn more,
please visit Bell.ca/LetsTalk.
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SOURCE Bell Canada